Argentina: Both malting and feed barley prices unchanged

Argentina’s prices for malting and feed barley in both FOB and FAS terms are unchanged, RMI Analytics said in their latest report.

Spot harvest shipment of malting barley would trade at slightly lower levels. Feed wheat prices (FAS to farmer) are cheaper than malting barley, which leaves farmers with a more favourable view to barley pricing. Still, with 45% (1.8 mln tonnes) of crop’25 sold by farmers, only 30% (0.51 mln) is fully priced - the remaining unpriced under a formula structure. The crop will be lower protein due to persistent rainfall, and if rain continues, farmers may harvest under wetter conditions and simply sell barley as feed where the moisture tolerance is up to 14%.

The bigger yields expected could trigger selling as feed barley given a low malting premium, plus the moisture and low protein risks. Harvest has started in the Cordoba and Santa Fe, with the main barley region of southern BA province to get really advancing in 7-10 days, with drier conditions needed in order to begin harvest. No further rain is needed or quality and yield issues could develop.